InformationWeek Issue Jan. 27, 2003 - PowerPoint PPT Presentation

InformationWeek Issue Jan. 27, 2003. CEO Visions 2003: Looking Beyond the Storm www.Informationweek.com. Who is paying federal taxes?. To be in the top 25% of all tax payers you need to earn:. $52,965. To be in the top 50% of all tax payers you need to earn:. $26,415.

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His vision was for GE to become the most competitive enterprise on earth.

His wanted to create a small company spirit in a big company body, to build an organization out of an old line industrial company that would be high spirited, more adaptable, and more agile than companies one-fiftieth the size.

He wanted GE to be a company where people dared to try new things—where people felt assured in knowing that only the limits of creativity and drive, their own standards of personal excellence, would be the ceiling on how far and how fast they move.

To shape and lead the major home appliance industry globally, becoming one of the world’s great companies while creating value for shareholders, employees, customers, suppliers, government leaders and communities.

Whirlpool, in its chosen lines of business, will grow with new opportunities and be the leader in an ever-changing global market. We will be driven by our commitment to continuous quality improvement and to exceeding all of our customers’ expectations. We will gain competitive advantage through this, and by building on our existing strengths and developing new competencies. We will be market driven, efficient and profitable. Our success will make Whirlpool a company that worldwide customers, employees and other stakeholders can depend on.

The market of tomorrow will be huge, filled with tough savvy customers with a wide range of preferences and choices. We must fulfill their needs and meet their expectations in quality and service. We must surprise them.

Sony was born in 1946 when Morita, the oldest son of a rice wine brewer, joined former Japanese navy colleague Masaru Ibuka, a fellow engineer, to start a business repairing radios on a borrowed $500. A significant number of firsts: - Japan’s first transistors in 1954.

- Japan’s first transistor radio in 1955. - First Japanese company to be listed on the NYSE.

- First Japanese company to build a U.S. factory. Morita told engineers to make Walkmans despite the lack of market research. “We don’t believe in market research for a new product unknown to the public. So we never do any.”

Although no nation's history can ever be reduced to the story of one man, Lee Kuan Yew had such a paramount role in making modem Singapore that an understanding of that country, its society and its business environment cannot be complete without an attempt at understanding Lee himself.

10. Visionary companies believe they can accomplish major objectives simultaneously without making major negative trade-offs.

11. Visionary companies attained their successful status not so much because they made visionary pronouncements (although they frequently did) but by pursuing a never-ending process of emphasizing the above factors.

Because the visionary companies have such clarity about who they are, what they are about and what they are trying to achieve, they tend to not have much room for people unwilling or unsuited to their demanding standards.

Take a measure of the people at the top of a business and you will get a clearer sense of that company’s past accomplishments and future prospects than from its balance sheet, profitability, cash flow, market share and market capitalization.

“Don’t eliminate the fear of what is going to happen if you don’t move.”

A good manager will train people to deal with fear by example, by discussion, by cognitive processes.

It was very difficult to decide to get out of the memory business because we had created the business in the first place. This meant reducing the company in terms of people by one third and closing eight facilities (also 1/3).

These kind of decisions are easier if you can take an outsider’s perspective of the situation. When in doubt, talk to customers who are unhappy with what you are doing.